Best Trading Apps with Copy Trading Features Copy trading has gained immense popularity in recent years due to its simplicity and the potential for beginners to earn profits by mimicking the trades of successful traders. It allows users to replicate the strategies and positions of experienced traders automatically, providing a way for novices to learn the ropes while still participating in the markets. Many trading platforms now offer copy trading features across various asset classes, including stocks, forex, and cryptocurrencies.
In this article, we’ll explore some of the best trading apps with copy trading features. These apps allow you to trade with a community of traders, automatically copying their trades and strategies, making it easier to start trading without deep market knowledge.
1. eToro
Best For: Beginners and Social Traders
Assets Supported: Stocks, Forex, Crypto, Commodities, ETFs, and more
Overview:
eToro is one of the most well-known platforms that offers copy trading features, often considered the pioneer of social trading. It combines both social media and trading by allowing users to connect, share strategies, and mimic the trades of other traders in real-time. The platform is easy to use, making it a favorite for beginners.
With eToro, you can view the trading strategies of top investors and copy them automatically or manually. eToro’s “CopyPortfolios” feature bundles different traders’ strategies into a single portfolio, allowing you to diversify your investments easily. You can filter traders by their performance, risk levels, and trading styles.
Key Features:
- CopyTrader™: Allows users to copy other traders’ positions in real-time.
- CopyPortfolios: Diversified portfolios that mimic the strategies of top traders.
- Social Feed: Follow traders, interact, and learn strategies.
- Demo Account: Try copy trading without risking real money.
Why Choose eToro? eToro is great for beginners who want to explore the market without too much risk. It’s also ideal for those who want to learn from experienced traders while building their portfolio. With a wide range of asset classes available, it’s a one-stop shop for various markets.
2. ZuluTrade
Best For: Forex Traders and Experienced Investors
Assets Supported: Forex, Commodities, Cryptocurrencies, Indices
Overview:
ZuluTrade is a dedicated social trading platform that connects traders with brokers. The app allows users to follow expert traders known as “signal providers” and copy their trades automatically. ZuluTrade’s platform provides in-depth analytics, allowing users to evaluate and choose traders based on their performance, risk levels, and trading strategies.
One of ZuluTrade’s distinguishing features is its ability to filter traders based on various criteria such as risk appetite, trading style, and profitability. This enables users to make more informed decisions about whom to copy. ZuluTrade also allows you to adjust the amount of capital you wish to allocate to each trader, offering flexibility in risk management.
Key Features:
- Signal Providers: Choose from a wide range of experienced traders to follow and copy.
- Customization: Adjust the level of risk and position size when copying a trader.
- Performance Metrics: In-depth statistics on trader performance.
- Copy Trading Analytics: Insights and analysis to guide decisions on which traders to follow.
- Broker Integration: Compatible with several leading forex brokers.
Why Choose ZuluTrade? ZuluTrade is perfect for forex traders who want to gain exposure to the market by copying seasoned professionals. Its vast pool of signal providers and in-depth analysis tools makes it a great choice for more experienced investors who want a high level of customization.
3. Covesting
Best For: Cryptocurrency and Forex Traders
Assets Supported: Forex, Crypto, Stocks, Commodities, Indices
Overview:
Covesting is a powerful copy trading platform that allows users to follow and copy the trades of professional traders across various asset classes. It’s known for its cryptocurrency trading features but also supports other markets like forex and commodities. Covesting connects with PrimeXBT, offering high leverage on some trades, and provides a transparent and real-time performance overview of top traders.
Covesting’s platform includes detailed metrics to help users assess a trader’s past performance, such as ROI, risk level, and the number of followers. This transparency allows users to make informed decisions before copying a trader.
Key Features:
- Copy Trading Leaderboard: View a ranking of top traders by their returns, trading style, and risk levels.
- Real-Time Copying: Copy traders in real-time and adjust trade size to your risk tolerance.
- Multiple Asset Classes: Trade stocks, forex, crypto, and more.
- Transparent Performance Metrics: View the past performance of traders.
Why Choose Covesting? Covesting is ideal for those who want to copy trading strategies in cryptocurrency or forex markets. It offers a high level of transparency, allowing users to filter traders based on specific criteria such as profitability and risk. It’s a great choice for both beginners and more experienced traders who are keen to explore multiple markets.
4. CopyTrader by NAGA
Best For: All Levels of Traders
Assets Supported: Stocks, Forex, Cryptocurrencies, ETFs, CFDs, Indices
Overview:
NAGA offers a copy trading feature known as CopyTrader, which allows users to follow the trades of other traders and copy them automatically. The app provides a social trading environment where you can view the trading activities of others, interact with fellow traders, and discuss strategies.
NAGA provides both a demo account and real-time copy trading features. The platform has an easy-to-use interface that’s suitable for both beginners and experienced traders. NAGA also integrates with social media, allowing users to build their personal profiles and attract followers.
Key Features:
- CopyTrader Feature: Automatically copy the trades of experienced traders.
- Performance Metrics: View a trader’s performance, risk level, and strategy before copying.
- NAGA Autocopy: Automatically copy multiple traders simultaneously.
- Social Network Integration: Share insights, discuss strategies, and connect with the community.
Why Choose NAGA? NAGA is suitable for traders of all skill levels. Whether you’re new to trading or an experienced investor, NAGA provides a robust social trading experience that allows you to learn from others while investing across multiple markets.
5. TradingView
Best For: Active Traders and Investors Who Want to Combine Copy Trading with Charting
Assets Supported: Stocks, Forex, Cryptocurrencies, Commodities, Indices
Overview:
TradingView is a highly popular platform among traders for its advanced charting tools and technical analysis capabilities. Although it’s primarily known for its charting and analysis features, TradingView has also integrated social trading features, including the ability to copy trades.
With TradingView, you can follow other traders’ ideas and strategies, interact with them, and copy their trades. The platform has an excellent user interface that appeals to both beginners and experienced traders, offering a range of tools to enhance your copy trading experience.
Key Features:
- Ideas Feed: View and follow trading ideas shared by other traders.
- Copy Trading Integration: Copy trades from other traders directly on the platform.
- Advanced Charting Tools: Access powerful charting features for in-depth technical analysis.
- Custom Alerts: Set alerts for specific market conditions, assets, or price levels.
Why Choose TradingView? TradingView is perfect for those who want to combine copy trading with advanced charting tools. It’s ideal for traders who value analysis but also want to copy the trades of top investors. If you like to have in-depth charts and technical tools while also benefiting from social trading, TradingView is a great option.
6. MetaTrader 4 (MT4) and MetaTrader 5 (MT5)
Best For: Forex and CFD Traders
Assets Supported: Forex, CFDs, Commodities, Indices
Overview:
MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are two of the most popular platforms for forex and CFD trading. While these platforms are mostly known for their charting tools and automated trading capabilities (via Expert Advisors), they also support copy trading through third-party services like Signal Providers.
By subscribing to specific signal providers, you can automatically copy their trades in real-time. MT4 and MT5 integrate with many brokers, and the platform is highly customizable, offering both beginner and advanced tools.
Key Features:
- Signal Providers: Subscribe to professional traders and copy their trades automatically.
- Automated Trading: Use Expert Advisors (EAs) to set up automated trading strategies.
- Customizable Interface: Tailor the platform to your needs with a variety of plugins and tools.
- Comprehensive Charting Tools: Access some of the best technical analysis tools in the industry.
Why Choose MT4/MT5? MT4 and MT5 are ideal for serious forex and CFD traders who are looking for a platform that offers advanced technical tools while also providing the option to copy the trades of professionals. If you prefer to have more control over your trades and strategies, these platforms are an excellent choice.